- Following the announcement in February of its proposed acquisition of Melody Radio Emap has announced the sale of the Cardiff Broadcasting Company, which trades as Red Dragon Radio, to Capital Radio for £18.25 million.
The acquisition of Red Dragon comes only a week after Capital Radio bought struggling alternative music station Xfm.
Red Dragon covers the area around Cardiff and Newport in South Wales and broadcasts in both FM and AM to an estimated listenership of 270,000.
The acquisition of Greater London based Melody meant Emap had to reduce its radio holdings under the radio points system. In this, a broadcaster cannot exceed set shares of total UK audience. The sale of Red Dragon satisfies that requirement.